Urban Money

Punjab National Bank Loan Against Property

Punjab National Bank
4.5

Punjab National Bank offers Loan Against Property @ 8.80% p.a. onwards for loan amounts of up to Rs 5 crore and for tenures of up to 10 years. The loan proceeds cannot be used for real estate investments and speculative purposes such as shares, stocks, commodities, bullion, securities, etc.

+91
Choose City

Urban Money

Loan Against Property Banks

Interest Rate

Processing Fee

Rating

Loan Amount/Tenure

Punjab National Bank Loan against property Interest Rate

Punjab National Bank

8.8% - 11.15%

0 Processing Fee

4.5

₹2L - ₹5Cr

Tenure(Up to 10 Years)

Details

Features & Benefits of Punjab National Bank Loan Against Property

One of the top private banks in India, Punjab National Bank, offers loans secured by your residential or business property. The Punjab National Bank offers loans secured by property that allow borrowers to borrow up to 60% of the property's value. Punjab National Bank provides specialised lending alternatives with affordable interest rates and flexible payback schedules. Given that approval is completed in three days, a loan secured by your property can be the ideal option for all your financial demands. The loan procedure is swift and straightforward, and door-step services are available.

The following is a list of features and benefits of Punjab National Bank LAP include the following:

  • Long-term loan with low EMIs
  • Favourable interest rates
  • Effortless documentation
  • Speedy processing
  • Mortgages for both residential and business properties

What is the Eligibility Criteria for a Punjab National Bank Loan Against Property? 

The following eligibility requirements for Punjab National Bank Loan Against Property are subject to change depending on the profession:

  • Individuals and joint owners with the ability to repay loans and moveable property
  • Minimum Income: For salaried applicants, Rs 25,000 per month, and for those who are not, Rs 3 lakh per year.

Punjab National Bank Loan Against Property Interest Rates

The credit score and many other indicators are used to set interest rates. The table below pertains to the Punjab National Bank Loan Against Property Interest Rates:

Credit score (any loan amount) Loan Against Commercial Property Loan Against Residential Property (LAP) Loan against Plot/ Loan against Special Property
>= 800 7.75% to 8.25% 7.75% to 8.25% 10.50% to 11.00%
>775 to 799 8.50% to 9.00% 8.50% to 9.00% 10.50% to 11.00%
>750 to <775 8.50% to 9.00% 8.50% to 9.00% 10.50% to 11.00%
> 725 to < 750 8.75% to 9.25% 8.75% to 9.25% 10.50% to 11.00%
> 700 to < 725 9.20% to 9.70% 9.20% to 9.70% 10.50% to 11.00%
> 650 to < 700 10.30% to 10.80% 10.30% to 10.80% 10.50% to 11.00%
Up to 650 10.15% to 10.65% 10.15% to 10.65% 10.50% to 11.00%

Factors Affecting Punjab National Bank Loan Against Property Interest Rates

The applicants must be aware of the interest rate before requesting for any loan facility. Affordable interest rates automatically aid your ability to repay your loan. As the interest rate rises, so will the EMI amount. Your payback burden is lessened with a personalised Punjab National Bank loan against property interest rates.

The table below displays some of the most important details surrounding the Punjab National Bank Loan Against Property:

  • A wide range of non-home loan options, such as loans for purchasing and building a commercial property and residential and commercial property, lease rental discounting, and more.
  • An extensive branch network in India.
  • An efficient service model with on-site resources for quick processing and disbursement.
  • Possibilities for increasing the loan amount if costs rise.
  • Team of committed employees working to guarantee customer pleasure.
  • flexible Repayment alternatives.

Punjab National Bank Loan Against Property Fees and charges

Punjab National Bank offers loans against property with the following fees and charges applicable:

Processing Fee   0.75% (Max Rs 1 lakh)
Documentation Charges For loans upto Rs 50 lakh –Rs 2500/- For loan above Rs 50 lakh –Rs 5,000/-

Documents Required for Punjab National Bank Loan Against Property

The paperwork is simple and hassle-free. The following papers must be submitted with the application for a loan from Punjab National Bank secured by real estate:

For Salaried Individuals

A photo-attached application form 

A valid residence proof

  • Aadhar card
  • Ration card
  • Telephone bill
  • Electricity bill
  • Voter ID card

An Identity Proof

  • Voter ID
  • Driving Licence
  • Aadhar card
  • Employer’s ID

Income Proof

  • Last 6-month bank statement of the account in which salary gets credited
  • Last six months salary slip
  • Photocopies of the documents of the property one wants to acquire
  • 2 years of Form 16

For Self-Employed Individuals

3 years financial statements

Proof of Residence

  • Aadhar card
  • Ration card
  • Telephone bill
  • Electricity bill
  • Voter ID card

Proof of identity

  • Voter ID
  • Driving Licence
  • Aadhar card
  • Employer’s ID

Income Proof

  • ITR of last 3 Years with P/L account and audited/certified balance sheet by a CA
  • Bank Statement of last 12 months 
  • Proof and certificate of existence of business with a business profile
  • Photocopies of the documents of the property one wants to acquire.

How does the EMI Calculation Work for Punjab National Bank Loan Against Property?

The PNB Loan Against Property EMI Calculator uses data like the interest rate, loan principal, and loan tenure to determine the EMI amount. To utilise the PNB Loan Against Property EMI Calculator, follow these instructions:

  • The loan's principal amount you want to borrow should be entered.
  • Enter the interest rate that the provider has quoted.
  • Type in the loan term that you want to repay the loan over.

You will be given the required EMI amount once you have submitted the necessary information. The online PNB Loan Against Property EMI calculator is a free resource that can be used repeatedly and in many configurations. Using this EMI calculator, you may quickly come to a decision that fits your needs and budget.

The monthly payment on a mortgaged loan is determined by the type of property (commercial, industrial, or residential), the occupation (employed, self-employed, or businessman), the loan's tenure, the interest rate, and the loan's total amount.

Loan Amount (Rs.) Tenure of 5 Years Tenure of 7 Years Tenure of 10 Years
20,00,000 42,494 33,202 26,303
30,00,000 63,741 49,804 39,454
50,00,000 1,06,235 83,006 65,757

How does Punjab National Bank compare With Other Lenders?

The table below pertains to Punjab National Bank LAP interest rates compared with other lending institutions:

Name of the Lender Interest Rate (% p.a.)
State Bank of India 10.35-11.05
Bank of Baroda 10.55-16.20
PNB Housing Finance 7.99-11.00
IDFC First Bank 8.75-16.25
HDFC 9.35-12.25
L&T Housing Finance 9.40
LIC Housing Finance 9.45-12.60
Godrej Housing Finance 9.75-14.50
ICICI Bank 9.75-10.90
Tata Capital 10.10 onwards
Bajaj Housing Finance 8.60-18.00
Axis Bank 9.90-10.35
Kotak Mahindra Bank 9.15 onwards

Punjab National Bank Loan Against Property Customer Care Number

Borrowers facing any issues related to Punjab National Bank LAP services can be resolved quickly and hassle-free. Individuals can contact customer care at the below number:

Punjab National Bank customer care number- 1800 120 8800.

FAQs

From refinancing to reducing your interest, we have the answers right here.

What is a loan's interest rate against property in Punjab National Bank?

Punjab National Bank loan against property offers loans of up to Rs 5 crore for terms up to 10 years, at an interest rate of 10.15% p.a.

What are the benefits Punjab National Bank Provides on loan against property?

The benefits of a Punjab National Bank loan against property are repayment is simple because you can acquire an extended loan term with low monthly payments at a competitive interest rate. The paperwork is simple, uncomplicated, and processed swiftly. Customers who utilise the overdraft facility can pay interest on the amount borrowed.

How to check loans against property Status in Punjab National Bank?

One can check the status of their loan by going to the official website of Punjab National Bank and filling in their application number.

Does Punjab National Bank Check for CIBIL Score to approve a loan against property?

Yes, Punjab National Bank checks for CIBIL Score for loans against property.

What is the maximum and minimum loan against property amount I can get from Punjab National Bank?

Punjab National Bank offers loans against property up to Rs. 5 crores at 10.5% p.a. For a maximum tenure of 10 years.

What KYC documents will I have to submit to apply for a loan against property from Punjab National Bank?

One needs to submit proof of address, proof of identity, and some income proof to apply for the loan.

What is the processing fee on the Punjab National Bank loan against property?

The Punjab National Bank loan processing fee against property is 0.75% (Max Rs 1 lakh).

Get your latest Credit Score, FREE

Loan Against Property Guide

Get in-depth knowledge about all things related to loans and your finances

Complete Details Loan Against Property Balance Transfer
Vimal VijayanJan 05, 2023

Complete Details Loan Against Property Balance Transfer

A balance transfer is a facility that allows a customer to switch their lender for an improved or lower interest rate and services. Consequently, the new bank will be liable to pay the outstanding loan amount to the p

Read More
How to Get Loan Against Property Without Income Proof?
Satish PrajapatiJul 25, 2022

How to Get Loan Against Property Without Income Proof?

When you pledge your residential or commercial property as collateral to the lender and borrow a specific amount in return, it is known as a loan against property or LAP. Simply put, it is a loan you avail on your pro

Read More
Mortgage Loan Tax Benefits under Income Tax Act
Satish PrajapatiJan 13, 2022

Mortgage Loan Tax Benefits under Income Tax Act

A Loan Against Property is a secured advance amount that users get against their mortgaged commercial or residential property. This amount of funds is not restricted to being used for a certain purpose but can b

Read More